Whether this is your first or tenth financial year as a business owner, the legislation and claimables are always changing. We’ve
compiled a series of resources, downloadable spreadsheets, key dates and handy tips and tricks to support you, all in one super easy,
super practical place.
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For those that want to see everything all at once, this is your collection of tax, FBT and EOFY resources.
Now's the time to review what strategies you can use to minimise your tax before 30 June.
Tax planning is more than just a financial necessity—it's a strategic advantage for businesses of all sizes. By proactively managing your tax strategy, you can significantly reduce your liabilities, enhance cash flow, and ensure full compliance with ever-evolving tax regulations.
To maximise your deductions and ensure that your tax return is complete, please review the following items and advise your Accountant if any apply to you.
Understand what expenses you can claim as a property investor.
Everyone wants to pay less tax, right? To do that you need to know what you can claim… and what you can’t.
Now's the time to review what strategies you can use to minimise your tax before 30 June.
Whether you need to finalise Single Touch Payroll data or produce payment summaries, this checklist will help you navigate the end of year payroll process from start to finish.
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
On 31 March, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out here.
WEBINAR RECORDING: Master allowances and reimbursements, understand their PAYG and super guarantee implications, and learn to navigate travel vs. living-away-from-home allowances. Gain insights into FBT considerations, new ATO record-keeping requirements, and effective salary packaging arrangements.
A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee.
The Australian Government is revising tax incentives for electric vehicles, including phasing out Fringe Benefits Tax (FBT) exemptions for plug-in hybrid electric vehicles (PHEVs). Businesses providing these vehicles to employees must understand the impact of these changes and take necessary steps before the deadline.
Why should you lodge an FBT return where no FBT is payable? Well, for the simple reason that it turns on a three-year deadline for the ATO to commence audit activities. This is a NEW ATO rule as a result of massive deficits due to COVID. The ATO need to gain more funds somehow...FBT liability is one of the methods.
Granting employees’ access to company cars is treated by the ATO as a ‘non-cash benefit’, more commonly referred to as a fringe benefit.
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how.
An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out for a meal to cement the business relationship, with the cost of this meal often covered by one party.
The ATO has signalled that there will be an increased focus on FBT this year. Given the ever-improving tools at the ATO’s disposal, in conjunction with the government’s need to raise additional revenues, it is important that employers ensure they remain compliant with their FBT requirements.
